Five more countries have ratified the Cape Town Convention in 2009 including: China (Effective 01 June 2009); Cuba (Effective 01 May 2009) ; Kazakhstan (Effective 01 May 2009); Singapore (Effective 01 May 2009); and United Republic of Tanzania (Effective 01 May 2009). As you may recall, the Convention applies to a transaction involving (1) aircraft that are type certified to transport at least 8 persons including crew or to transport goods in excess of 2750 kilos, engines that are rated at least 550 hp or 1750 pounds of thrust, and helicopters that are type certified to transport at least 5 persons including crew or to transport goods in excess of 450 kilos; and (2) a. For aircraft: If the Aircraft is registered in a contracting state (a country that has ratified Cape Town) or the debtor is “situated” in a Contracting State at the time of the “conclusion” of the relevant agreements or if the Aircraft is not registered in a Contracting State but as part of the relevant transaction there is an agreement to register the aircraft in a Contracting State or b. For engines: If the debtor is “situated” in a Contracting State at the time of the “conclusion” of the relevant agreements.
The 31 countries who have ratified the Convention so far include the following:
Afghanistan, Albania, Angola, Bangladesh, Cape Verde, China, Colombia, Cuba, Ethiopia, India, Indonesia, Ireland, Kazakhstan, Kenya, Luxembourg, Malaysia, Mexico, Mongolia, Nigeria, Oman, Pakistan, Panama, Saudi Arabia, Senegal, Singapore, South Africa, Syrian Arab Republic, United Republic of Tanzania, United States of America, United Arab Emirates, Zimbabwe.
Finally, the Third Edition of the Regulations and Procedures governing the International Registry of Mobile Assets have been published and are now effective. The new edition contains significant and complex changes and anyone using the the International Registry should review the new edition carefully.